Senior Executives Depart MedMen

RETAIL: Resignations follow lawsuit, exodus of 100 staff

Three senior executives of Culver City-based MedMen Enterprises Inc. have left the company in recent weeks.

MedMen General Counsel LD Sergi Trager and Chief Operating Officer Ben Cook resigned last month, according to a statement released late on Good Friday, April 19, penned by MedMen Chief Executive Adam Bierman.

Daniel Yi, senior vice president in charge of MedMen’s corporate communications, also left.

The resignations came amid the backdrop of nearly 100 employee departures from the cannabis retailer since January, according to a filing with securities regulators.

Bierman could not be reached for comment on the resignations and staff departures.

In late January, MedMen was hit with a wrongful termination lawsuit from former MedMen Chief Financial Officer James Parker, who claimed he was stripped of his powers and unable to do his job. The suit is pending in the Los Angeles County Superior Court.

In February, Bierman said in a company blog post that Parker’s claims were “malicious and designed to get attention for what is a meritless lawsuit.” He wrote that the allegations “fly in the face of our core values,” and that MedMen runs one of the “most diverse workforces of any company, not just in cannabis.”

MedMen operates in California, Nevada, New York, Arizona and Illinois. In April, the company projected revenues of $36.6 million for the three-month period ended March 30. The company is expected to post its final quarterly results on May 29.